IDAHO
SECRETARY OF STATE
ELECTION DIVISION

YEAR 2000
PROPOSED CONSTITUTIONAL AMENDMENTS

Amendment
Number and Question

Legislative
Council's

H.J.R.
1

"Shall
Section 4, Article IX of the Constitution of the State of
Idaho be amended to:
1. Change the name of the Public School Fund to the
Public School Permanent Endowment Fund;
2. Provide that the fund shall consist of proceeds from
the sale of school lands and amounts allocated from the
Public School Earnings Reserve Fund;
3. Provide that proceeds from the sale of school lands
may be deposited into a land bank fund to be used to
acquire other lands within the state; and
4. To provide that if those proceeds are not used to
acquire other land within a time provided by the
legislature, the proceeds shall be deposited into the
Public School Permanent Endowment Fund along with any
earnings on the proceeds?".

"Shall
Article VIII, of the Constitution of the State of Idaho
be amended by the addition of a new Section 2A, Article
VIII, authorizing the legislature to enact laws
establishing a bond bank authority to purchase municipal
bonds or other municipal obligations and make loans to
municipalities secured by municipal bonds or other
municipal obligations; authorizing laws permitting the
authority, without an election, to issue revenue bonds
payable from or secured by municipal bonds or other
obligations, to pledge specific state funds or revenues
as a source of payment or security for bonds or other
obligations issued by the authority, to establish debt
service or other reserve funds, to obtain private credit
enhancement for bonds or other obligations issued by the
authority, to establish a revolving loan program, to
invest moneys held by the authority in securities and
other obligations described in the instruments providing
for the authority's issuance of bonds or other
obligations and in securities or other obligations in
which a trustee may invest pursuant to law, and to
execute other contracts and take other necessary or
appropriate actions to accomplish the purposes of a bond
bank authority; authorizing laws permitting
municipalities to sell to the authority bonds or other
obligations issued in accordance with constitutional
limitations or to obtain loans from the authority secured
by such bonds or obligations, to levy and collect
property taxes, fees, charges and assessments and assign
the same to the authority to pay or secure municipal
bonds or obligations issued for sale to or as security
for loans from the authority, and to execute other
contracts and take other necessary or appropriate actions
to accomplish the purposes of the bond bank authority;
providing that any debt or liability of the state arising
from the authority's exercise of its powers shall not be
subject to other constitutional limitations and
requirements, including voter approval; and defining
"municipality" to include any county, city,
school district, irrigation district or other special
purpose district or political subdivision of the state
established by law?".